Park City, Utah City council votes to limit where Pacaso can buy homes

Park City, Utah’s City Council approved a measure that would restrict where Pacaso, a fractional ownership company that buys luxury homes in popular vacation markets, can purchase homes. While the company is not prevented from operating in the city, the restrictions block the company from buying homes in the most desirable areas. The council left open the possibility of expanding restrictions to other areas. Pacaso is being challenged in other communities as well. The battles in Park City and elsewhere are part of a larger confrontation with opponents of short-term rental and fractional ownership companies who want to prevent or sharply restrict where these companies can operate in their communities.